South Korea: Seoul searching

Apr 01, 2025
will-mcbean-80-x-80-v2.jpg
Will Hayes
RBC BlueBay 80 x 80.jpg
RBC Emerging Markets Equity team

South Korea has been in the headlines of late, with the country awaiting the final outcome of impeachment proceedings against President Yoon. While we were pleasantly surprised to discover a business-as-usual approach on the ground in Seoul, the key takeaway from our discussions was the sense of anticipation among the country’s companies and investors.

In our full piece, we discuss:

  • Political uncertainty: alongside confirmation of President Yoon’s impeachment, the coming months could also see the revision of the Commercial Act and the election of a new president.
  • Improving corporate governance: the penny has dropped for many South Korean corporates. Shareholder return agendas and increased dividends, share buybacks and cancellations were discussed across the board, with many proactively seeking feedback from investors on best practice.
  • K-beauty: new exports, K-cosmetics, are gaining momentum overseas and are known for being high-quality, reasonably priced products. They are increasingly created by desirable indie brands and made by cosmetics original design manufacturers with fast turnaround times and strong customer relationships.
  • Demographic trends: South Korea’s ageing population and declining fertility mean that this technologically advanced country will need to continue to focus on robotics and AI. Evidence of this is already creeping into the public domain, with robotic drinks preparation and service in one of the malls we visited.

While South Korea remains export-focused and far from immune to geopolitical and domestic political turbulence, we feel cautiously optimistic. Flying out of Seoul, we feel hopeful that positive change may be afoot.

 

Read our full piece here

全てのインサイトを見る

関連するインサイト

Latin America’s next growth wave
5 mins read
Christoffer Enemaerke 80 x 80.jpg
Christoffer Enemaerke
Apr 14, 2026

South Korea: reforms are creating long-term opportunities
4 mins read
will-mcbean-80-x-80-v2.jpg
Will Hayes
Apr 13, 2026

Emerging markets: learning to fly
8 mins read
Phil Langham 80 x 80.jpg
Phil Langham
Apr 09, 2026

関連する資産クラス

Emerging markets equity

Disciplined security selection and risk management, combining top-down thematic views with rigorous company level research.

詳しく見る